The Canadian gold standard, a cornerstone of British Columbia’s gold mining industry, has been a source of national pride for centuries.
But that was before the advent of the United States-dominated International Monetary Fund, and the advent, in 2007, of the global commodity price crash that sent the gold market into turmoil.
“We had no control of the commodity market,” said Bruce Llewellyn, an associate professor of economics at the University of British Colombia.
“In a world where everything is controlled by a couple of countries, what does that mean?”
And it was the gold standard that helped create a global financial system that would have a huge impact on our economic and political system, he said.
The gold standard had its heyday in the 19th century, but it was a failed economic system that was designed to maintain the status quo, he added.
“It was an economic system designed to make the country as a whole look good, which is basically what it does.
It makes you look good.”
Now, more than a decade after the crash, the gold price is back up to pre-recession levels.
It is a time of uncertainty and uncertainty about how the world economy is doing.
“There are people who believe that if gold is undervalued, then that would be good for Canada and good for the Canadian economy,” Llewysaid.
“And if you are undervalued by a lot of people, you’re not going to have a strong economy.”
In fact, the Canadian government says its goal has been to maintain gold as a benchmark for its own economy.
But what happens when the price of gold goes down?
And how much does the value of Canadian gold fluctuate based on the global market?
The answer is pretty much everything.
“I think the fundamental question is whether or not gold is a good investment,” said Brian Hallett, an economist at the Conference Board of Canada.
“When we look at the global gold market, we have the world’s largest market.
We have a number of countries that have a lot to gain from gold, and we have a few that have very little to gain.”
What’s more, many of those countries have huge economies and they rely heavily on gold for export.
“They are very dependent on gold,” Hallellt said.
“If you are a Canadian that exports to those countries, it’s a huge risk.
If you’re a Canadian who imports to those places, it is a huge investment.”
The United States is the world leader in gold mining.
The U.S. government is Canada’s largest exporter of gold, with the country holding about one-third of the world market for gold.
But when it comes to gold, there are major differences in how countries view it.
For one thing, the U.s. government has a gold reserve program that it sets aside for a set number of years.
In Canada, the reserve is held at the Canada Pension Plan Investment Board.
In the U of S, the reserves are managed by the Treasury Board of Canadian Investments, which has the power to seize and sell gold, if it believes the government needs to.
The government has also stepped in to intervene in the market for Canada’s gold.
In 2011, the government issued its first-ever guidelines to banks on how to handle gold in a way that protects investors, but in doing so it has also created a market that is very different from the U, S or other major gold exporters.
“The U. S. has been doing a lot over the last few years of being more aggressive in controlling gold,” said David Anderson, an economics professor at Dalhousie University.
“But they have been very careful to make sure that the price stays stable.”
For instance, gold is sold to international banks only if they hold it in reserves.
And the U S government’s rules say that reserves should be maintained at least as long as the market price of the precious metal.
“Canada has been very proactive in trying to get out of the gold markets,” said Anderson.
“You don’t want to go into the market with a reserve price that’s not in line with the price you think the market will sell for.”
Anderson believes the U s gold market has had a negative impact on Canadian gold producers.
“As the reserves go down, it hurts producers, especially in the U,” he said, “because they have to go back and look at their reserves to see how much gold they have.”
The gold industry in Canada has been hit by a number other market factors in recent years.
“One of the biggest was the global downturn,” said Andrew Smith, a professor of gold and mineral resources at Dalkeith University in Victoria, B.V. “A lot of gold was going out of production.”
But in the meantime, the industry has had to compete with other commodities in the global marketplace.